The Surprisingly Large Winners in a Bill to Help Small Banks

Huge custody banks like BNY Mellon and State Street would be among the biggest beneficiaries

Three of the biggest winners, in a bill meant to help small and midsize banks, are anything but.

The bill, championed by Senate Banking Committee Chairman Mike Crapo, would raise the threshold for stricter oversight by the Federal Reserve to $250 billion in assets from $50 billion, a boon for midsize regional lenders. It also contains measures to reduce the burden of regulation on smaller community banks.